Mick McCarthy says Town’s approach to the transfer market won’t change, despite the sale of Aaron Cresswell to West Ham. The Town boss doesn’t expect to spend money on fees but will continue to look at the Bosman and loan markets which have served him so well since he took over at Portman Road at the start of November 2012.

Cresswell joined the Hammers earlier this month for a guaranteed £3.75 million, paid as is usually the case in instalments, rising to a possible £7 million after Premier League appearance milestones are hit.

“We’ve replaced Cressy with a free transfer,” McCarthy said. “We’ll not be going out and buying anybody, I don’t think we’ll be paying money for anybody, we’ll be doing the same - Bosmans and loan deals and see whether we can work the oracle again doing that. We’ve done it so far. But what we have got is funds for wages.

“The game is bonkers when you consider that David McGoldrick was a free transfer 12 months ago and Ross McCormack has just gone for £11 million [from Leeds to Fulham]. The game is completely and utterly bonkers. That sums up sometimes how crazy it is.”

Despite not having that sort of cash to splash, McCarthy believes that the kind of spirit and togetherness that has become the hallmark of his Town squad can go a long way towards addressing the financial imbalance.

“Without a doubt it can,” he insisted. “Although Burnley spent a few quid before the end of the season, they had a good side and stuck with it all the way through and didn’t spend fortunes.

“I’m not suggesting for a moment that Ross McCormack isn’t a good player, but consider that David McGoldrick was a free 12 months ago and he was on 16 goals when he got injured.

“We’ll be competing against teams with a lot of money. Norwich will have it, Fulham will have it, Cardiff will have it, Wigan probably. I’m not so sure about Reading because they’ve got their own troubles. Middlesbrough seem to be splashing a few quid, Derby as well.

“We’ll be competing with them again, it just makes the competition a bit tougher, but all the better when you beat them.”

He added: “It does create a good team spirit when they’re all more or less on an equal footing, there are no big stars coming in, there’s nobody coming in and getting a huge wage.

“We’ve had lads who have come in, Hunty came in last year, Christophe Berra came in, and they all added to it, they were just great lads. And I think it’s nice when they’ve all got a point to prove as well.”

McCarthy says he has no complaints regarding the Financial Fair Play constraints within which he has to work or owner Marcus Evans’s contribution.

“As far as I’m aware he’s got his leg into the club for £82 million and puts £5 million in a year just to keep it going. If somebody’s telling me he’s not putting any money in they’re being slightly disingenuous.

“I do understand [the financial situation] and I’m cool with it, it’s a challenge but it always is, whether you’ve got tons of money or no money or a bit of money, it’s a challenge to do well in the league.”

The 55-year-old admits that he relishes being the underdog: “Even as a player I enjoyed beating the odds and it seems that’s my role as a manager now. I’ve enjoyed doing it in the past and I’ll continue to enjoy doing it.”

Would he like to be spoilt and have large transfer war chest at his disposal? “That would be nice, but maybe I wouldn’t know what to do with it.

“I do all right with the lads I get. I’m always one that makes the best of what I’ve got or at least attempts to make the best of what I’ve got. I don’t whinge about it, I’ve got a job to do.”

Photo: Action Images

HARRY10 added 20:30 - Jul 14 "At the moment promotion, if it comes, would pay it off " Unfortunatelt not. Players will have clauses in their contracts which will see their wages rise, and we will be very lucky to sign any new players without paying PL wages. If we through as much as possible at the debt we will certainly be relegated with still a fair amount left. if we only pay off £10m - £20m then we will need to stay up for five seasons. Not likely given our lower spend. Somehow we need to wipe out the debt and start again as promotion will never clear that amount.

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PeekFreans added 20:42 - Jul 14 Bergholtblue added 09:09 - Jul 14 excellent post
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LWNR2013 added 20:53 - Jul 14 HARRY10 - I get what you mean but without ME the debt would have wiped out ITFC. We average 15000 at home, this should increase if current progress under MMMMMM continues but until it does and we are promoted who new will inject £100m plus? Can't wait for 9/8, and I'm neither deluded or feeling mugged as some may feel. I renew my ST by choice.
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TimmyH added 21:04 - Jul 14 To summarise - we are now selling players (who knows maybe McG or Berra could also go before the season starts) to fund loans and bosmans wages and signing on fees. We will do very well to emulate the 'freebies' we had last season. Yes we are massively in debt but weren't QPR last season to the tune of £150M?? and look where they are now...Mick can come out with all this spiel about going for the top 6 this season...but financially at present it just doesn't seem like the ambition is there now we have a more trusted manager in place.

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Talbs77 added 21:06 - Jul 14 Bit of smoke and mirrors to me. He's not going to broadcast the fact he has a few bob to spend as the prices will just inflate. He's a wily old fox, I'd rather he was spending the club's money than anyone else. Let's stay positive, I feel good about the coming season.
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blueboy1981 added 21:10 - Jul 14 bring back Wickham ................ ' I am young, the earliest Managers I remember are Keane & Jewell' ......... who do you think you are then to hurl abuse at me ???????????????? .............. says it all young man. Don't be abusive - and reel it in OK. A new era of ITFC Supporters ! ........... May god help us.
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Axeldalai_lama added 21:16 - Jul 14 No suggestions then, blueboy1981? Just down votes to anyone raising questions. I ask again; what should we be doing to move forward?
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blueboy1981 added 21:33 - Jul 14 Axeldalai Iama ................. if you can, and have , read my previous posts CORRECTLY - you will already have the answers to your so called question/s. I do not have the inclination to repeat myself continuously to people who are on a totally different wavelength - and who prepared to accept anything from the Club - without challenge. AMBITION ....... ever heard of it ??

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Axeldalai_lama added 21:41 - Jul 14 Oh okay my mistake, sorry blueboy1981. Your revolutionary plan is to be ambitious. Have you thought about emailing ME with this kind of amazing forward thinking. Especially if you tell them you've had a season ticket for a while, they'll practically hire you as an adviser straight away.
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blueboy1981 added 21:49 - Jul 14 Axeldalai lama ............. enjoy being satisfied - it is so easy to be that. Just enjoy your season without finding the need to call people 'twonks' (wherever that word came from) - because they disagree with you.
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Axeldalai_lama added 21:54 - Jul 14 Nothing to do with being satisfied, it's about being positive and realistic. It's so easy to moan, especially when you say you hope you're wrong. Especially when you have no answers. It's so frustrating, anyone can boo from the sidelines, it serves absolutely no purpose, especially pre season. Have a bit of positivity, it's not hard, you have no reason to moan about what is being said and done so far. If come the end of August we are doing badly and have signed no one then start moaning, I just find buzz killers ridiculous, they seem to revel in the moaning for the sake of it.

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braveblue added 22:31 - Jul 14 What a load of rubbish. MD said last week funds available. Wages down from last season. MM knows nothing about intra group finance so should stop talking about it. Great way to put anyone off buying a season ticket. Great work!!!
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bohslegend added 23:11 - Jul 14 The fact that even before a ball is kicked in anger the usual moan-bags get on here to dream up the usual doomsday scenarios makes my blue blood boil! What satisfaction do you get Blueboy1981 in continually talking down the club and the manager? You talk about people giving you -1 and yet you are the very one (along with your close pal seasider) who lashes the -1's out to anyone who dares to be positive and supportive. How can anyone - ST holder or not, lifelong 'fan' or not - have so much negativity about a club and yet not just fook off into the sunset??? It can't be doing you any good. Misery can make you ill. Take my advice and go a club with a fairy-godmother owner and a chance of making top 4 in the prem. Surely this is all that would make you happy?

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Sindre94 added 00:01 - Jul 15 We trust you Micky.
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HARRY10 added 01:05 - Jul 15 "Misery can make you ill" seems the only one miserable is you, try reading your post again if you were so certain in your supposed positivity then no comments on here would bother you and most likely you wouldn't even bother to read them maybe there's a fair bit of truth in those comments and they have unnerved you - too near the truth, perhaps
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Jaffe added 10:55 - Jul 15 how about signing a good player that would excite the fans and encourage people to come and see a game. there might even be a profit in it for the club. or are we content to be the invisible club in the championship. not on tv radio news etc,,,
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blueboy1981 added 18:19 - Jul 15 .......... the one thing we desperately need is SUPPORTERS WHO WANT SUCCESS - and thankfully we have some who thankfully identify themselves with their posts. On the flip side - we have far too many who equally, and continuously, identify themselves as 'happy with whatever' - a Club will go nowhere with this attitude from Supporters - other than maintain an also ran status. Watch them identify themselves - again. Although this may just 'put them off' doing so.

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